Morning Headlines

Rudd's populist policy fix

The federal government is moving to combat its electoral weaknesses by cracking down on asylum seekers and examining changes to policies on climate change, welfare and higher education that, combined, could cost more than $7 billion. The Fin

Labor takes aim at student target

The Rudd government could walk away from a key education target to increase university participation, with Higher Education Minister Kim Carr saying rapid growth in enrolments over the past three years had potentially compromised the quality of degrees on offer. The Aus

Remerger savings doubt

Fresh doubts have emerged about whether the state government will save money by remerging Synergy and Verve Energy, with the utilities indicating they are likely to be forced to call on high-priced consultants for advice on the tie-up. The West

Flinders cuts jobs, blasts FMG

Iron ore hopeful Flinders Mines has sacked staff and restructured the mining plan at its Pilbara Iron Ore Project in a bid to make it more attractive in a “changing” iron ore market. The West

Union chief threatened 'WWIII', court told

Construction group Brookfield Multiplex is seeking financial damages and other penalties from union president Joe McDonald over allegations he coerced workers to go on strike by threatening “World War III” if they returned to work. The Fin

Top Resources Headlines

Flinders cuts jobs, blasts FMG

Iron ore hopeful Flinders Mines has sacked staff and restructured the mining plan at its Pilbara Iron Ore Project in a bid to make it more attractive in a “changing” iron ore market. The West

Driller runs close on covenants

Drilling products and services firm Boart Longyear has sought relief from its lenders as the effects of slowing mining and exploration activity push the company perilously close to breaching its banking covenants. The Fin

Voelte's salary is $3.2m

New Seven Group Holdings chief executive Don Voelte has been employed on a rolling contract and can be fired at one month's notice. The Fin

Rio still waiting for Mongolian go-ahead

Rio Tinto is still waiting for government approval to begin shipping from its $6 billion Mongolian copper mine despite the re-election of the incumbent president and ongoing production at the facility. The Fin

Top Politics Headlines

Rudd's populist policy fix

The federal government is moving to combat its electoral weaknesses by cracking down on asylum seekers and examining changes to policies on climate change, welfare and higher education that, combined, could cost more than $7 billion. The Fin

Labor takes aim at student target

The Rudd government could walk away from a key education target to increase university participation, with Higher Education Minister Kim Carr saying rapid growth in enrolments over the past three years had potentially compromised the quality of degrees on offer. The Aus

Remerger savings doubt

Fresh doubts have emerged about whether the state government will save money by remerging Synergy and Verve Energy, with the utilities indicating they are likely to be forced to call on high-priced consultants for advice on the tie-up. The West

MacTiernan in second poll shot

Vincent mayor Alannah MacTiernan has a clear path to a second tilt at federal politics after highly regarded barrister Tom Hammond last night announced he would not contest the seat of Perth. The West

Top Property Headlines

Union chief threatened 'WWIII', court told

Construction group Brookfield Multiplex is seeking financial damages and other penalties from union president Joe McDonald over allegations he coerced workers to go on strike by threatening “World War III” if they returned to work. The Fin

Woolstores, cottages closer to restoration

Two Fremantle Heritage sites, the Woolstores building and warden's cottages, which have been labelled eyesores and left to languish for years, are a step closer to being restored. The West

The West Australian

Page 1: A clique of investigators employed in at least five state government agencies – including the Corruption and Crime Commission – shared information and strategies aimed at undermining the management of the Department of Corrective Services.

Page 3: WA businesses are increasingly despondent about the state's economy, a new survey out today shows, but it s failing to stop Perth's property market reclaiming its mantle as the nation's best.

Page 4: Vincent mayor Alannah MacTiernan has a clear path to a second tilt at federal politics after highly regarded barrister Tom Hammond last night announced he would not contest the seat of Perth.

Page 5: Kevin Rudd has rewarded his lieutenants with plum frontbench jobs and positioned his government to focus on four key areas – asylum seekers, education, the National Broadband Network and the carbon tax.

Page 6: Energy Minister Mike Nahan says he does not know how much revenue Verve's half-completed Muja AB refurbishment is generating, despite claims by the Premier Colin Barnett that the botched joint venture is profitable.

Page 7: WA's environmental watchdog has cleared the way for big timber companies to take more big native trees, including jarrah and karri, from WA's forests in a move that puts it on a collision course with green groups.

Page 11: Two Fremantle Heritage sites, the Woolstores building and warden's cottages, which have been labelled eyesores and left to languish for years, are a step closer to being restored.

Page 13: WA's once-overheated hotel market has recorded a decline in occupancy rates for the first time in four years, with the state now falling behind NSW, Victoria and Tasmania, according to latest figures.

Business: Fresh doubts have emerged about whether the state government will save money by re-merging Synergy and Verve Energy, with the utilities indicating they are likely to be forced to call on high-priced consultants for advice on the tie-up.

WA fruit growers have hit out at Coles after it was fined over signs that gave the impression oranges imported from the US were grown in Australia.

Australian stocks began the new financial year on a losing note yesterday, as fresh data reignited fears about China's economic growth.

Despite the mining slowdown, the WA government has been handed some good news a month before its budget, with ANZ Bank economists estimating the dive in the Australian dollar will boost its bottom line by offsetting flagging mining royalty revenues.

Stockbroker Doug Rose has taken the helm of Ezatm in the wake of co-founder Todd Zani's ousting from the troubled cash machine operator.

Iron ore hopeful Flinders Mines has sacked staff and restructured the mining plan at its Pilbara Iron Ore Project in a bid to make it more attractive in a “changing” iron ore market.

India is emerging as a key market for the local blue gum plantation industry as it enters a new era free from the stigma of managed investment schemes.

Boart Longyear's share price has suffered more pain from the mining slump after the world's biggest driller delivered its second earnings downgrade in two months.

The Australian Financial Review

Page 1: The federal government is moving to combat its electoral weaknesses by cracking down on asylum seekers and examining changes to policies on climate change, welfare and higher education that, combined, could cost more than $7 billion.

Coles slammed the Australian Competition and Consumer Commission over its handling of a food-labelling complaint as an “appalling regulatory process”, triggering a rare concession from the consumer watchdog that its behaviour was “not adequate”.

Page 3: Tax commissioner Chris Jordan has put corporate advisers on notice to rein in the aggressive tax practices of multinationals and big businesses or the companies will face intensive in-house scrutiny by the tax office.

Page 5: The Reserve Bank of Australia should keep official interest rates on hold when it meets in Brisbane on Tuesday to give it ammunition to deal with the “next crisis of confidence in the world economy”, according to a shadow board that critiques the central bank's decisions.

Page 8: Prime Minister Kevin Rudd has introduced 11 new faces to his frontbench, eight of whom were instrumental in the push to dump his predecessor, Julia Gillard.

Page 10: Bringing down the curtain on a 23-year parliamentary career, Simon Crean insists he experienced his best moments in public life before he got to Canberra.

Page 11: An early move to an emissions trading scheme from a fixed price on carbon could reduce future household power bills on average by $125 a year and by 10 per cent for business.

Page 12: Construction group Brookfield Multiplex is seeking financial damages and other penalties from union president Joe McDonald over allegations he coerced workers to go on strike by threatening “World War III” if they returned to work.

Page 13: Sharemarket investors took a pummelling on the first day of the new financial year as stocks were dumped on fresh concerns about the outlook for China.

Page 15: Rio Tinto is still waiting for government approval to begin shipping from its $6 billion Mongolian copper mine despite the re-election of the incumbent president and ongoing production at the facility.

New Seven Group Holdings chief executive Don Voelte has been employed on a rolling contract and can be fired at one month's notice.

Drilling products and services firm Boart Longyear has sought relief from its lenders as the effects of slowing mining and exploration activity push the company perilously close to breaching its banking covenants.

The Australian

Page 1: The Rudd government could walk away from a key education target to increase university participation, with Higher Education Minister Kim Carr saying rapid growth in enrolments over the past three years had potentially compromised the quality of degrees on offer.

A new inner circle has emerged at the top of the federal government as Kevin Rudd sets out to prove he has learnt to consult more widely on key decisions after the blistering attacks on his leadership style in the past.

More than $100 billion of federal investment in nation-building projects, such as the National Broadband Network, clean energy programs and other initiatives, would be overhauled under a reform blueprint to make Australia a competitive player in the Asian century.

Page 2: The accelerating slowdown in China’s economic growth sapped the Australian sharemarket yesterday, overshadowing upbeat local data that reinforced expectations that the Reserve Bank would keep the official interest rate on hold today.

Workers with a typical growth-oriented super fund are poised to enjoy an average 15.5 per cent gain for the 12 months to June 30, despite a torrid end to the year on global sharemarkets.

Page 4: Kevin Rudd has named a cabinet including a record six women, promoted key supporters and handed Bill Shorten the crucial role of selling the government’s education reforms in a new-look ministry sworn in at Government House yesterday.

Page 6: The evening up of the polls and Kevin Rudd’s popularity in his home state have given the ALP hope of taking seats from the Coalition at this year’s election, not just holding more of their own.

Business: The dramatic slowdown in the resources sector could put more mining services companies in danger of breaching their debt covenants, after struggling drilling contractor Boart Longyear negotiated some relief over its financial obligations despite yet another earnings downgrade.

The Australian Taxation Office is set to lure top professionals from the big four accounting firms, in a bid to bring greater private-sector experience to the tax office, as well as tighten up audit procedures.

The prospect of an interest rate cut in China is growing amid renewed signs that the powerful manufacturing sector is weakening, which will have negative consequences for the broader economy.

Supermarket giant Coles has paid six infringement notices issued by the Australian Competition & Consumer Commission for allegedly misleading customers.

Foreign banks are eyeing an increase in their lending in Australia, including a fresh assault on the small to medium business market, signalling the domestic big four lenders may face further pressure in an already hot market.